Due Dates for Statutory Payments

There are various types of taxes and compliance applicable on the different types of Assesses which are to be paid on time. Fail to meet the due date could result in financial loss and defaulter may be charged with hefty interest and penalty but remembering due dates of each statutory payment is a cumbersome task. However, the number of applicable compliance is lesser in case of individual assessee and higher in case of any other assessee.

A salaried person requires to memorize only single date i.e. 31st July i.e. the last date of filing of Income Tax Return. All the taxes on behalf of the salaried person is paid by his employer, he only needs to furnish the details of his tax savings investments for the year and rest of the work is done by his employer.

In case of any other type of assessee there are several compliance to fulfill. So here I have compiled the list of due dates of each month with the compliance needed to be met.

Various Statutory Due Dates

Points to Note:

1. Late Deduction of TDS may attract Interest @ 1% from the date it was deductible to the actual date date of deduction.

2. Late Payment of TDS may attract Interst @ 1.5% from the date of deduction to the date of payment to the central government.

2. Late fees u/s 234E of Rs.100 per day for late filing of TDS Return.

2. Interest @ 18% or @ 13% p.a. as applicable for late payment of Service Tax.

3. Penalty of Rs.1,000 plus Rs.100 per day, maximum Rs.20,000/- for late filing of Service Tax Return.

3. Interest u/s 234A and 234B for Non-Payment or Short-Payment of Advance Tax.